Dynavax Technologies (NASDAQ:DVAX) Stock Price Down 7.8% – Here’s What Happened

Shares of Dynavax Technologies Co. (NASDAQ:DVAX) dropped 7.8% during mid-day trading on Friday . The stock traded as low as $12.31 and last traded at $12.35. Approximately 577,515 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 2,138,228 shares. The stock had previously closed at $13.39.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Dynavax Technologies in a research note on Friday, November 8th. The Goldman Sachs Group cut their price objective on shares of Dynavax Technologies from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Dynavax Technologies Stock Down 8.4 %

The company has a quick ratio of 12.34, a current ratio of 13.23 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 95.16 and a beta of 1.34. The firm has a 50 day moving average of $11.32 and a two-hundred day moving average of $11.29.

Institutional Trading of Dynavax Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. HighVista Strategies LLC boosted its holdings in shares of Dynavax Technologies by 4.2% during the 3rd quarter. HighVista Strategies LLC now owns 162,708 shares of the biopharmaceutical company’s stock valued at $1,813,000 after acquiring an additional 6,547 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Dynavax Technologies during the third quarter valued at about $119,000. Paloma Partners Management Co bought a new stake in shares of Dynavax Technologies during the third quarter worth about $280,000. PDT Partners LLC acquired a new position in shares of Dynavax Technologies in the third quarter valued at approximately $3,967,000. Finally, Bank of Montreal Can raised its holdings in Dynavax Technologies by 8.3% in the 3rd quarter. Bank of Montreal Can now owns 1,077,081 shares of the biopharmaceutical company’s stock valued at $11,848,000 after buying an additional 82,449 shares during the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States. It markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe.